Brendan Howlin (Wexford, Labour)
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Question 139: To ask the Minister for Finance the amount paid to date to the Revenue Commissioners Office in respect of settlements made in connection with its investigation into the use of life assurance policies for tax evasion; and if he will make a statement on the matter. [39254/06]

Brian Cowen (Laois-Offaly, Fianna Fail)
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I am advised by the Revenue Commissioners that they are conducting their investigation into the use by taxpayers of life assurance investment products for the purposes of tax evasion in two stages. In the first stage of these enquiries taxpayers who invested undisclosed and undeclared funds in life assurance investment products were given an opportunity to make a voluntary disclosure. About 5,000 taxpayers made payments of around €400 million in the course of the disclosure scheme.

The second stage of this investigation relates to the identification and pursuit of taxpayers who should have availed of the voluntary disclosure scheme but who opted not to. This stage commenced on 23 May 2005, the closing date for taxpayers to advise Revenue that they intended to make voluntary disclosures in the first stage of the enquiries. New powers were provided in the Finance Act 2005 to authorise Revenue officers to examine the records that relate to a class or classes of life assurance policies and policyholders in the course of conducting sampling exercises. Revenue has completed its on-site sampling work in all of the relevant Life Assurance companies.

The information gathered in this process and from the voluntary disclosures has been used to ground applications to the High Court for orders directing Life Assurance companies to provide information to Revenue that will facilitate the identification of the taxpayers who ought to be included in the follow-up enquiry programme. To date 11 High Court orders have been applied for and made. It is envisaged that the information that is sought in these orders will be delivered to Revenue by the end of November of this year. It is expected that the follow-up enquiry programme will commence in the first half of 2007.